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Vedika Software Pvt Ltd was formed in Calcutta, India, in late 1987 with a paid up capital of US$ 20,000. It started up with two divisions: Packaged software development and share registrars.
In 1992, a joint-venture agreement was signed with a Singapore-based company to expand sales throughout Southeast Asia. Subsequently, this company incorporated a subsidiary in Malaysia in early 1993. By the end of 1993, Vedika bought out the Singapore company and converted it into a wholly owned subsidiary, and transferred its global marketing and support headquarters to Singapore. The decision to concentrate on the business accounting market has been a sound one. For example, sales for the four original products were US$20,000 in 1990-1991, while world wide sales for FACT alone accounted for US$3.0 million in 1997. In order to cater to the needs of common business transactions in the Gulf, FACT opened up its operation wing in Dubai in 2003 - the active hub of emerging markets, covering 1.6 billion people with GDP $1.1 trillion. OEM Service: No. of R&D Staff: Estimated Annual Sales (USD): US$10 Million - US$50 Million Export Percentage: Quality Control: Legal Representative/CEO: Factory Size (Sq.meters): Factory Location: Corporate Status:
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